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"The Standard & Poor's S&P/Case-Shiller Home Price Indices (HPI) for January which were released on Tuesday are reporting further bad news on the home value front.

The HPI which tracks, in two different indices, 10 and 20 metropolitan statistical areas (MSAs) across the United States, reported that the prices of existing family homes nationally continued to decline into the new year. 16 of the 20 MSAs in the larger survey reported record declines, ten of them reaching double digits.

Both the 10-City and the 20-City Composite Indices are now reporting annual declines in excess of 10 percent. The 10-City had a record annual decline of 11.4 percent; the 20-City reported a decline of 10.7 percent."

Source:  MortgageNewsDaily.com

This news must be bothering many of new buyer.  However, I think if you are buyer waiting to buy, it may be a good time to start looking for homes.  Very few can catch real bottom and many miss the boat.  Now I see some of the properties are selling below the cost to build.  I will appreciate your comment.  Thank you